Cashing out in the UK

My fellow britbongs, how do I cash out my BTC to a UK bank account?

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I used coinbase. You will have to purchase a small amount via your bank account but after that they will allow you to withdraw to that account.

and you have to send the money in EURO's but you receive bongs

If you don't want to/can't use coinbase, I guess you could try using bitbargain or localbitcoins. You can scalp an extra 5-10% on the price too.

hahah fucking retard fags using exchanges to cash out, enjoy your fees and conversion rates and massive waits.

>cashing out

How hard will I get fucked by fees?

Just lube up the gays like it cant be that bad?

use giftoff.com and buy an amazon gift card, either that or you run a very high chance of: bank blacklisting, coinbase or whatever (((going down))) or taking ages to send your money in which time it could crash, insane fees etc. It took me half an hour to turn 0.5 btc into amazon points today

What are the capital gains taxes like in the UK? Don't forget about them, either.

>cashing out now

This is like selling all your Apple stock when it "peaked" at $20.

You get fucked hard on teh exchange rate bros. Banks offer terrible rates on exchange.

localbitcoins.com and see if you can find someone buying at a decent price. Spread is pretty terrible.

Other option is coinfloor, but they are slow, and it's a dodgy looking site.

Best bet it open a Euro account somewhere if you are gonna receive regular payments. Then use transferwise or currencyfair to convert to Sterling and deposit in your bank.

Exchanges wont allow straight to these conversion services usually, so don;t try.

You're welcome. :)

About 30%. lube up.

Try bittylicious.com I buy BTC from them (because its fast) but never sold, might be worth checking

I've used localbitcoins.com
>lbc -> paypal -> my bank acc

just use a trusted seller you'll be fine.

Emphasise TRUSTED seller. Paypal is reversible, high fraud from stolen accounts, and risky as hell. Small amounts ok... but big amounts better to do bank transfer - also because paypal loves to freeze accounts that get dropped a lot of money all of a sudden.

Localbitcoins is a lot of effort and people are never looking to buy more than 4 figures worth of crypto.

Also you have to deal with talking to them getting ID scans ect and then praying they don't fuckin charge you back.

Im happy losing 5% or w/e to cash out all at once that's like an hourly swing with btc now anyway

You only need ID to buy, not to sell. They just want to be sure they aren't getting a fraudulent transfer and getting their accounts closed over it.

I assumed you were selling bigboy money sweetie.

Just get a debit card form cryptopay or xapo in your case.

I've cashed out on coinfloor, but yes the site does indeed look dodgy. Plus they haven't added ETH or LTC despite talking about it for months, and the transaction history doesn't even distinguish between btc and bch.

Trouble is there aren't a lot of places that have GBP markets with any sense of liquidity. I suspect liquidity on coinfloor will take a bit of a dump after they reinstate trading fees. Your probably just safer dealing in USD or EUR and hoping theres not too much fluctuation in GBP (for tax purposes) desu.

0% below 11k on profits

How long did coinfloor take to land a withdrawal for you? I've not used them in quite a while and it was deadly slow and poor communication.

Look into revolut com and fire.com for Euro accounts.

Sell on gdax, send to revolut as eur, exchange to gbp, send to bank

Use Revolut or Fidor bank to withdraw in Euros.

>using shitty bong fiat
>2017

You can try bittylicious.com. I've used ot for buying but not for selling yet. But I can confirm that it is legit and pretty quick in my transactions so far. Bit of a premium and there is a cap on how much you can buy and sell a day without submitting ID but in a pinch it meets my needs.

How much does coinbase take on amounts like the daily max, 9k €? I presume it's not a flat fee

I use coin corner

lol, love it when newbies weigh in. Bittylicious not for selling, only buying, and terrible rates. Shoo newbie... shoo shoo.

Pfft, they hire niggers.

news.coincorner.com/miscellaneous/get-to-know-the-coincorner-team-joel-summer-legal-intern/

Check out Monese, they allow you to have a euro and gbp account which are both seperate debit cards, you can send gbp to eur between both accounts. With the EUR card you can buy bitcoins from coinbase but you can also deposit EUR via SEPA transfer from coinbase which is what you want. The only downside is you have to pay a £4.95 monthly fee for all this but the SEPA/bank transfers are free.